Canopy Growth Stock Surged Because a New Deal Could Make It a Big U.S. Marijuana Player

By

Connor Smith

Updated April 23, 2019 5:00 a.m. ET

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Canopy Growth sowed the seeds for a U.S. expansion last week when the company reached a deal to buy the rights to acquire the U.S.’s Acreage Holdings for $3.4 billion.

Although full ownership won’t happen unless marijuana becomes legal in the U.S. at the federal level, Acreage could make Canopy a big-time player in what is expected to be the world’s largest cannabis market, according to an analyst at BMO Capital Markets.

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